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Ron Lee Posted in: ROI
I remember when ROI was “easy.” Finish your project on deadline, come in under budget, win an award, and if the company president liked it (or his photo), then you had great “ROI.” Well, the times have changed and now you’re wondering how to really prove ROI, let alone even define it. And the scary part is, we as marketing types better figure out the ROI deal, because when there is a downturn in business, what tends to get scrutinized first? The marketing budget. Why? No quantifiable ROI, at least in the eyes of the finance department.
It’s apparent what companies are expecting from their marketing efforts when you look at the attributes/experience top headhunters are seeking to fill Chief Marketing Officer (CMO) positions.
I saw this article in Marketing Sherpa recently and it quickly made its way into many other marketing blogs and relevant Web sites (118 links at the last check). A quick diffusion rate like this usually indicates a great deal of interest in the content. To summarize the article, here’s what CMO headhunters want in a candidate:
What would all marketers like to have? For one thing, they would like to have their customers’ or prospects’ undivided attention. However, that seems to be a tall order these days. According to a new Simultaneous Media Usage Study, highlighted by the Center for Media Research, getting someone’s undivided attention is difficult.
The study, conducted by BIGresearch, polled over 12,000 random respondents that were representative of the Census 2000 population. It clearly shows that most people multitask when “consuming” media. In fact, 70 percent of 25-34 year olds say they simultaneously access one or more media on a regular or occasional basis. The 55+ age group multitasks the least, but even 60 percent of that group says they simultaneously use two or more media on a regular or occasional basis.
Pay Per Call is one of those things that just seems ready to burst on the online marketing scene in a major way.
What I found really interesting in a recent Pay Per Call report summary from the Kelsey Group, was the author’s comment, “[Pay per] calls potentially also help ‘close the loop’ between online shopping and offline buying — the dominant transaction model into the foreseeable future.” We all know that people often shop and research online, but still buy locally. Pay Per Call is a way to convert a company’s national online marketing presence into directly trackable local Cost Per Lead actions. It is a way of harnessing the power of the Web and the power of the local Yellow Pages.
Greg Ness Posted in: Online Marketing
The other day I was wandering through Marshall Field’s and I had the distinct feeling I was being watched. I looked around, but no one was in sight. No one, that is, except a mannequin who was staring at me obliquely with a cold, vacant look. He was well dressed, polite (in a quiet, Minnesota-nice kinda way) and he had a head. You know it’s really difficult to find a mannequin with a head these days. Look around. Most new mannequins are headless. Must be the current mannequin chic.
“Hey man, how you doin’?” I asked.*
Michael Kinsley’s experiment using a wiki for the LA Times editorial is over, at least for now. When I first heard of the idea my initial thought was that it wasn’t a very good one. A brave experiment in publishing, definitely. But a wiki seems the polar opposite to an editorial page. Wouldn’t adding a simple comments section or a discussion board work much better? I get the feeling that Kinsley wanted to create some buzz for his paper and latched onto a hot buzzword, mixed it into the editorials and hoped for the best. Others have suggested that the experiment was a success due to the attention it has attracted. It will be interesting to see how this all pans out and how long they’re willing to keep trying.
Sometimes it takes an outside resource to make you realize you’re heading in the right direction. We’ve been laser-focused for the last year on Web-centric marketing systems, ROI and interactive advertising. Then along comes this article that essentially says, “Hey, you guys are aboard a big locomotive and on the right track.”
According to an article in this month’s B-to-B Magazine, marketing ROI, electronic communications and online advertising are some of the dominant marketing trends. It’s a great read.
The article states that all departments in most successful B-to-B businesses are being asked to justify their budgets. Marketing is no exception. The story quotes Taddy Hall, chief strategy officer for the Advertising Research Foundation, “A driving force of accountability is the fact that measurement and the ability to calculate returns have improved dramatically with the Internet and real-time response measurement capabilities.”
Greg Ness Posted in: Online Marketing
There were some interesting email statistics the other day from a study done by AOL and Opinion Research Corporation. It shows how pervasively email has integrated itself into our lives. Sometimes email seems like such old technology. I guess that is because everything happens so fast on Internet Time. However, it is still remains a powerful way to reach people as these statistics show.
Quick: can you define blogs and RSS? If you bumped into your CEO in the elevator and he or she asked pointedly, “So tell me all you know about RSS and these blog things,” could you fire off your best virtual elevator speech faster than the express car racing to the top floor of your office building?
Don’t feel bad if you don’t know what they are, because a lot of us in marketing don’t know either.
I just read about a new Google study, conducted with Millward Brown, that clearly demonstrates the importance of search advertising for B2B technology buyers. The full report is expected to be released soon. Below is a brief overview.
Millward Brown polled 900 technology professionals involved in purchasing for their companies. The poll revealed search was used 30 percent more frequently than trade periodicals in the research phase of the buying cycle. Online search was 21 percent more frequently used than the B2B press in the consideration phase and used 62 percent more in the final purchase phase.